This article first appeared in The Edge Financial Daily on August 14, 2019

KUALA LUMPUR: Integrated engineering services provider Serba Dinamik Holdings Bhd has secured an engineering, procurement, construction and commissioning (EPCC) contract in Uzbekistan worth an estimated US$250.3 million (RM1.05 billion).

The EPCC job, for a 90-tonne per day chlorine processing plant in the Hazarasp Free Economic area in the Khorezm region, as well as a 26mw/h steam turbine independent power plant, was secured via its wholly-owned Serba Dinamik International Ltd, it said in a statement yesterday.

The job is to be completed in two years, starting Aug 8 this year and is to be completed by Aug 7, 2021.

In addition, it said its wholly-owned Serba Dinamik Sdn Bhd has secured two operations and maintenance contracts from Petronas Carigali Sdn Bhd.

The first contract, effective from June 10 this year till June 9, 2020, is for the provision of maintenance services for weir gas compressor. The second, effective from June 18 this year till June 17, 2022, is for the provision of maintenance of capstone micro-turbine generator.

Both contracts, however, carry no specific value as they are on a call-out basis, whereby work orders will be awarded at the discretion of the clients, based on its activity schedules and rates throughout the duration of the contracts.

“The contracts secured are expected to contribute positively to Serba Dinamik’s earnings for the financial year ending Dec 31, 2019,” the group said.

In a separate statement, Serba Dinamik managing director and chief executive officer Datuk Dr Mohd Abdul Karim Abdullah said the group’s contract win in Uzbekistan will strengthen its foothold in the region, and that he foresees that the new job will contribute positively to the group throughout the duration of the contract.

Serba Dinamik shares closed 0.74% or three sen higher at RM4.09 yesterday, with a market capitalisation of RM6.01 billion. In the past one year, the stock has gained 9.43%.